The shift to renewable energy is the need of the hour, and Saudi Arabia has been going all out to commit itself to sustainable development.
Recently, Saudi Power Procurement Co. launched five projects to generate electricity as part of the fourth phase of the Ministry of Energy’s National Renewable Energy Program. The five projects, including three powered by wind energy and two by solar energy, can generate a total capacity of 3,300 megawatts of energy.
The wind energy projects in Yanbu, Al-Ghat and Waad Al Shamal have a total production capacity of 1800 MW, distributed as 700 MW, 600MW and 500 MW, respectively. The two solar energy projects, based in Al Hinakiyah and Tabarjal, will have the capacity to produce 1500 MW in total, distributed as 1100 MW and 400 MW, respectively.
The National Renewable Energy Program is part of Saudi Arabia’s ambition to secure a comfortable energy mix for producing electricity using sustainable means.
In August, the Saudi Power Procurement Co. was nationalized by the Ministries of Finance and Energy in a bid to restructure the electricity sector and introduce financial and organizational reforms.
The Saudi Power Procurement Co. oversees planning and proposing projects to produce electricity to meet the country’s needs, finalizing electric power purchase and wholesale agreements, boosting energy trading markets and buying fuel for the company.
In August, the kingdom’s Energy Ministry also signed a purchase agreement to set up an independent energy-producing project of 80 MW-solar photovoltaic power.
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